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Fix Up & Community Fix Up Loan Programs

Fix Up Loans
Minnesota Housing purchases eligible home improvement loans from participating lending partners. The loans are originated to low-and moderate-income homeowners designated by Minnesota Housing. Participating lending partners will independently process, underwrite, close and fund each loan using normal, prudent underwriting standards, provide their own funds to the borrowers, then sell the loans to Minnesota Housing. The lenders are paid a processing fee per loan, and are reimbursed for the original principal amount of the loan.

Community Fix Up Loans
An add-on program for eligible Fix Up lending partners and provides and provides affordable financing to support community-based partnerships that target resources. Lenders who work with Community Fix Up are able to offer a slightly lower interest rate for regular Community Fix loans, and the program has an option for originating discount loans.

Rehabilitation Loan Program

The Rehabilitation Loan Program (RLP) provides deferred loan financing to eligible low income homeowners who are unable to secure home improvement financing in the private sector.  Funds may be used to improve the existing home’s safety, habitability or energy efficiency. Homeowners needing assistance of an emergency nature or to address an essential accessibility need will be referred to the Minnesota Housing Emergency & Accessibility Loan Program (ELP). Approved RLP lenders are also eligible to serve as approved ELP lenders.

Emergency and Accessibility Loan Program

The Emergency and Accessibility Loan Program assists homeowners needing assistance of an emergency nature or to address essential accessibility.  Rehabilitation Loan Program lenders are approved to participate in the Emergency & Accessibility Loan Program.